Nubank, a prominent fintech bank, made headlines with the recent announcement of suspending trading for its own cryptocurrency, Nucoin. The cryptocurrency, which was introduced as part of a reward program on the Polygon blockchain, will no longer be available for buying or selling within the bank’s app. Instead, it will function solely as an asset
Crypto
After conducting a thorough analysis, it has been noted that ITC Crypto founder and CEO Benjamin Cowen has highlighted a wedge chart pattern that is currently evident in the market. This pattern resembles previous cycles in 2019 but on a much larger scale. Additionally, the ETH/BTC structure seems to have bottomed out following an interest
Bitcoin’s recent surge from $53,600 to over $58,000 has left the community wondering about the underlying reasons behind this impressive pump. One of the key factors contributing to this surge could be the US spot Bitcoin ETFs. Since their inception in mid-January this year, these ETFs have had a significant impact on Bitcoin’s price movements.
Bitcoin (BTC) recently experienced a significant drop in price after the release of August nonfarm payrolls (NFP) data, which failed to meet market expectations. This led to a sharp decline in BTC’s price, plummeting nearly 5% to trade below the $54,000 range, reaching its lowest level since early August. The market saw a liquidation of
In a recent announcement, the United States Federal Bureau of Investigation (FBI) has highlighted the relentless attacks by North Korean hackers on the crypto industry. These attacks are characterized by their aggressive and sophisticated social engineering tactics, making them a significant threat to companies associated with digital asset investment products. Despite the awareness of cybersecurity
Ethereum, once hailed as a revolutionary platform in the world of cryptocurrencies, has seen a significant decline in performance relative to Bitcoin since the Merge two years ago. This decline has sparked concerns about the future of ether (ETH) and its potential fall into undervaluation territory. Blockchain analytics platform CryptoQuant has identified several key factors
The cryptocurrency market saw a tumultuous week with Bitcoin experiencing significant price fluctuations. Despite initially moving towards the $60,000 mark, Bitcoin faced rejection and dropped sharply to $55,500 by mid-week. This downward trend continued with the price falling to $52,800 before a minor recovery pushed it back above $54,000. Altcoins Follow Suit Altcoins also witnessed
Bitcoin’s market price has experienced significant fluctuations, dropping to its lowest point since the early August massacre when it fell below $50,000. This downward trend started after the spot Bitcoin ETFs were approved in the US, increasing demand for the cryptocurrency. Despite a previous crash, where BTC plummeted but later rebounded to $65,000, it seems
In a groundbreaking case in Scotland, £110,000 was seized from 29-year-old John Ross Rennie, marking the first time that proceeds of crime legislation have been used to confiscate cryptocurrency as physical cash. This case was settled at the High Court in Edinburgh, where Rennie of Cambuslang was convicted of possessing stolen goods following a violent
The U.S. Federal Reserve recently issued a cease-and-desist order against United Texas Bank (UTB), uncovering significant deficiencies in the bank’s governance. These deficiencies primarily revolved around the bank’s adherence to anti-money laundering (AML) laws and its risk management practices related to virtual currency customers and foreign correspondent banking. The order was a result of an
